OPTX (Syntec Optics Holdings) Beneish M-Score: -3.65 (As of Jun. 26, 2026)


OPTX Syntec Optics Holdings Inc OPTX
22 GF Score
Price $9.79
GF Value $1.94
Valuation Significantly Overvalued
! 2 Warning Signs
View Full Analysis

What is Syntec Optics Holdings Beneish M-Score?

Syntec Optics Holdings OPTX -5.22% 22 Beneish M-Score is -3.65 as of Jun. 26, 2026. GuruFocus rates OPTX with a GF Score™ of 22/100 and a GF Value™ of $1.94 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 2,404 Hardware companies, Syntec Optics Holdings ranks better than 93.93% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -3.65 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Syntec Optics Holdings's Beneish M-Score or its related term are showing as below:

OPTX' s Beneish M-Score Range Over the Past 10 Years
Min: -3.65   Med: -3.28   Max: -2.64
Current: -3.65

During the past 5 years, the highest Beneish M-Score of Syntec Optics Holdings was -2.64. The lowest was -3.65. And the median was -3.28.

Syntec Optics Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Syntec Optics Holdings's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Syntec Optics Holdings Beneish M-Score Chart

Syntec Optics Holdings Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 -2.67 -3.35

Syntec Optics Holdings Quarterly Data
Dec21 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.64 -3.20 -3.52 -3.35 -3.65

OPTX vs MPTI, MEI, RELL: Beneish M-Score Comparison

For the Electronic Components subindustry, Syntec Optics Holdings's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Syntec Optics Holdings Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Syntec Optics Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Syntec Optics Holdings's Beneish M-Score falls into.


OPTX
22GF Score
Syntec Optics Holdings Inc OPTX
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Syntec Optics Holdings Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Syntec Optics Holdings for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.9146+0.528 * 1.3259+0.404 * 0+0.892 * 0.9407+0.115 * 0.9563
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9373+4.679 * -0.165142-0.327 * 1.1072
=-3.65

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $5.44 Mil.
Revenue was 6.513 + 7.505 + 6.95 + 6.559 = $27.53 Mil.
Gross Profit was 0.961 + 1.769 + 0.854 + 1.598 = $5.18 Mil.
Total Current Assets was $14.36 Mil.
Total Assets was $23.50 Mil.
Property, Plant and Equipment(Net PPE) was $9.14 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.44 Mil.
Selling, General, & Admin. Expense(SGA) was $7.00 Mil.
Total Current Liabilities was $11.22 Mil.
Long-Term Debt & Capital Lease Obligation was $3.57 Mil.
Net Income was -0.898 + -0.344 + -1.429 + -0.344 = $-3.02 Mil.
Non Operating Income was 0.069 + -0.061 + 0.004 + 0.011 = $0.02 Mil.
Cash Flow from Operations was 0.47 + -0.004 + 0.535 + -0.158 = $0.84 Mil.
 Total Receivables was $6.32 Mil.
Revenue was 7.069 + 7.322 + 7.866 + 7.006 = $29.26 Mil.
Gross Profit was 2.309 + 0.987 + 1.834 + 2.174 = $7.30 Mil.
Total Current Assets was $15.02 Mil.
Total Assets was $26.30 Mil.
Property, Plant and Equipment(Net PPE) was $11.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.78 Mil.
Selling, General, & Admin. Expense(SGA) was $7.94 Mil.
Total Current Liabilities was $10.77 Mil.
Long-Term Debt & Capital Lease Obligation was $4.17 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(5.44 / 27.527) / (6.323 / 29.263)
=0.197624 / 0.216075
=0.9146

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(7.304 / 29.263) / (5.182 / 27.527)
=0.249598 / 0.188252
=1.3259

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (14.364 + 9.137) / 23.501) / (1 - (15.022 + 11.004) / 26.296)
=0 / 0.010268
=0

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=27.527 / 29.263
=0.9407

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(2.781 / (2.781 + 11.004)) / (2.443 / (2.443 + 9.137))
=0.201741 / 0.210967
=0.9563

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(7.004 / 27.527) / (7.944 / 29.263)
=0.254441 / 0.271469
=0.9373

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((3.565 + 11.218) / 23.501) / ((4.172 + 10.767) / 26.296)
=0.629037 / 0.568109
=1.1072

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-3.015 - 0.023 - 0.843) / 23.501
=-0.165142

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Syntec Optics Holdings has a M-score of -3.65 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -3.65 mean?
Syntec Optics Holdings (OPTX) has a Beneish M-Score of -3.65 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Syntec Optics Holdings and its competitors. According to the industry distribution chart, Syntec Optics Holdings ranks #146 out of 2404 companies in the Hardware industry, placing it in the top 6.1%.
Is Syntec Optics Holdings' Beneish M-Score too high?
Syntec Optics Holdings' current Beneish M-Score is -3.65. Based on the distribution chart, Syntec Optics Holdings ranks #146 out of 2404 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Syntec Optics Holdings has a GF Score™ of 22/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Syntec Optics Holdings' Beneish M-Score compare to MPTI and MEI?
According to the Hardware industry distribution chart, Syntec Optics Holdings ranks #146 out of 2404 companies for Beneish M-Score. This places Syntec Optics Holdings in the top 6% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Hardware company?
A good Beneish M-Score depends on the Hardware industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Syntec Optics Holdings and its competitors. Syntec Optics Holdings's current Beneish M-Score is -3.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Syntec Optics Holdings stock overvalued right now?
Based on GuruFocus' analysis, Syntec Optics Holdings (OPTX) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.94, compared to a current price of $9.79 — trading 404.6% above its estimated fair value. The current Beneish M-Score is -3.65. Syntec Optics Holdings' overall GF Score™ is 22/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Syntec Optics Holdings (OPTX), the current Beneish M-Score is -3.65 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Syntec Optics Holdings (OPTX) Overvalued in 2026?

Based on GuruFocus' analysis, Syntec Optics Holdings stock appears to be overvalued. The current stock price of $9.79 is trading 404.6% above its estimated GF Value™ of $1.94. GuruFocus considers Syntec Optics Holdings to be Significantly Overvalued.

Key valuation signals for OPTX:

  • Beneish M-Score: -3.65
  • GF Value™: $1.94 vs. price of $9.79 (404.6% above fair value)
  • GF Score™: 22/100 with 2 warning signs

No single metric tells the full story. See the OPTX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Syntec Optics Holdings Business Description

Address 515 Lee Road, Rochester, NY, USA, 14606
Syntec Optics Holdings Inc is vertically integrated from design and component manufacturing for lens system assembly to imaging module integration for system solutions. Making its tools, molding, and nano machining allows close interaction and recut ability, enabling special techniques to hold tolerances to sub-micron levels. It has steadily developed a variety of other complementary manufacturing techniques to provide a wide suite of horizontal capabilities including thin film deposition coatings, glass molding, polymer molding, tool-making, mechanical manufacturing, and nano machining. Syntec Optics focuses on four end markets of defense, medical, consumer, and communications all with several mission-critical applications.
22GF Score

Get the complete analysis for OPTX

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$9.79
Price
$1.94
GF Value